NASDAQ:SMMT - Nasdaq - US86627T1088 - Common Stock - Currency: USD
All three major U.S. stock indices are down Friday as traders reacted to several sets of fresh data that raised concerns about the economic outlook.
On CNBC's "Mad Money Lightning Round," Jim Cramer said Summit Therapeutics is "obviously just a very big spec."
It's been a good year for the stock market as a whole and a tremendous year for a couple of drugmaker start-ups. BTIG analyst Justin Zelin thinks Viking Therapeutics stock can reach $125 per share for a gain of about 166% over the next 12 months. If an experimental weight loss treatment it's developing continues to succeed in clinical trials, the stock could more than double again.
While chipmaker Nvidia is an obvious example of a top growth stock to own given its more than 2,500% return over the past five years, there are many other stocks that have produced incredible gains in a short stretch. Three stocks that have done phenomenally well this year and have outperformed Nvidia are AppLovin (NASDAQ: APP), MicroStrategy (NASDAQ: MSTR), and Summit Therapeutics (NASDAQ: SMMT). If you invested $5,000 into each one of these stocks at the beginning of the year, the total of those investments would be worth more than $100,000 right now.
Merck is spending up to $3.3 billion in a licensing deal for an anti-PD-1/VEGF drug from China.
Mentions: MRK
Markets rallied strongly this week on clarity about the election and an expected rate cut, but next week's inflation readings will determine if momentum lasts